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Credit Score Went Down After Application Declined

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Hi Guys


In November, I applied for a post office credit card and was declined despite having near perfect scores with Experian and Equifax.

I used an eligibility checker first and it showed that I had a 95% chance of being approved so I felt confident to apply.


However, while filling out the application form I did notice that there were no fields to enter information as a self-employed person but I proceeded anyway by entering info about my self-employed status so it may be that they only approve those that are employed.


I received a letter from them confirming the decline but they didn't give a reason.

It said that they used Experian.


For several years I have had an Aqua card and they have increased my credit limit quite substantially.

Over the last 6 months they have sent me a letter every month encouraging me to apply for a loan for up to £5,000 using the loan code they sent.


I want to apply for a loan because the rate is 3X lower than their credit card rate.

However, I'm concerned about my credit score being negatively affected again


I wonder if someone could tell me how much time I should allow before applying for credit/loan again.

Your advice would be appreciated.

Edited by dx100uk
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The score on the CRA files has no bearing on whether youll get accepted or not. Its there basically as a way to get money from you. "Pay us x amount and youll get to see it"


Each lender has its own criteria in order to meet the requirements to lend. Aqua is a sub prime lender, so it could be that the post office refused you as they can see it on your file and think you are in need of credit control and have issues which is why you went to a sub prime lender. It could even be that Your credit history/usage isnt good enough in their eyes to lend to you.


The only way to find out for sure is write/ring them or send a SAR

Any advice i give is my own and is based solely on personal experience. If in any doubt about a situation , please contact a certified legal representative or debt counsellor..



If my advice helps you, click the star icon at the bottom of my post and feel free to say thanks


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unless you've applied for lots of credit I cant see why an application even if a failure should ever effect your score.

nor being self employed.

please don't hit Quote...just type we know what we said earlier..


DCA's view debtors as suckers, marks and mugs


NO DCA has ANY legal powers whatsoever on ANY debt no matter what it's Type

and they

are NOT and can NEVER  be BAILIFFS. even if a debt has been to court..


If everyone stopped blindly paying DCA's Tomorrow, their industry would collapse overnight... 



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Thanks guys for your replies.


I did apply for an Aqua card several years ago to improve my credit score and continue to use it. I'm a landlord with a number of BTL mortgages and a couple of other credit cards and a loan but no defaults so I'll apply and see what happens. I don't know how the credit scoring system works but remember hearing someone say that we should wait several months after being declined so I assumed that applying for credit again too soon would have a negative impact.

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